World Bank Greenlights $1 Billion Loan for Dasu Hydropower Project

World Bank Greenlights $1 Billion Loan for Dasu Hydropower Project

Islamabad: Pakistan has successfully secured a $1 billion loan from the World Bank to bolster the Dasu Dam project located in the Kohistan district of Khyber Pakhtunkhwa.

This financial assistance arrives at a critical juncture as the nation confronts formidable economic challenges, aiming to make electricity more accessible and affordable.

The loan will be designated for the initial phase of the Dasu Hydropower Project, anticipated to yield approximately 2,160 megawatts of electricity initially. Upon completion, the project targets generating between 4,320MW and 5,400MW, significantly amplifying Pakistan's energy capacity.

Recognizing Pakistan's energy sector obstacles, the World Bank has identified the Dasu project as a premier hydropower location globally. It is poised to substantially augment and diversify the energy supply, offering economical electricity and broadening access to socio-economic opportunities for Pakistanis.

According to a World Bank spokesperson, "The Dasu Hydropower Project will be pivotal in meeting Pakistan's energy demands, ensuring a more dependable and cost-effective power provision. This endeavor transcends mere energy production; it is about empowering communities and fostering economic advancement."

As the project advances, it stands to become a cornerstone in Pakistan's endeavor to furnish sustainable and cost-effective electricity to its populace, ultimately catalyzing broader social and economic enhancements.